Arizona’s House has passed two important bills aimed at allowing the state to invest up to 10% of its treasury into Bitcoin and other cryptocurrencies. These pieces of legislation could establish Arizona as a pioneer in state-level cryptocurrency reserves, closely following a recent federal initiative from the Trump administration regarding Bitcoin reserves. The move indicates growing interest in digital currencies at state and federal levels.
In a significant legislative move, the Arizona House of Representatives has passed two key bills aimed at creating a cryptocurrency reserve for the state. Among them is Senate Bill 1025, dubbed the Arizona Strategic Bitcoin Reserve Act, which plans to allocate as much as 10% of the state treasury and retirement system funds into digital currencies, primarily Bitcoin. This bill was approved with a close vote of 31 to 25.
Alongside this, Senate Bill 1373, which seeks to set up a state-level digital assets reserve, also cleared with a more substantial majority—37 votes in favour compared to 19 against. Both bills are now headed to Governor Katie Hobbs for her approval, marking a crucial step in Arizona’s possible adoption of cryptocurrency as a strategic asset.
These measures place Arizona at the forefront among states looking to establish a Bitcoin or cryptocurrency reserve, highlighting a growing interest at the state level in digital currencies. This trend follows the introduction of a federal Bitcoin reserve earlier this year under President Donald Trump, which will utilise Bitcoin acquired through criminal or civil asset forfeiture as well as other budget-neutral methods to build its stockpile.
As for Bitcoin’s current status, it’s trading at approximately $94,441.55, showing a modest increase of 0.36% within the past day according to Benzinga Pro. The news around Arizona’s legislative moves reflects a trend that’s worth keeping an eye on, especially as more states explore the potential of cryptocurrencies and their integration into public funds.
